R-07-06-14-12D2 - 6/14/2007 RESOLUTION NO. R-07-06-14-12D2
WHEREAS, the City of Round Rock, Texas ("City") is a political
subdivision of the State of Texas and is empowered to delegate to a
public funds investment pool the authority to invest funds and to
act as custodian of investments purchased with local investment
funds, and
WHEREAS, it is in the best interests of the City to invest its
funds jointly with other local Texas governments in the Texas Short
Term Asset Reserve Program ("TexSTAR") in order to preserve and
safeguard the principal and liquidity of such funds and to earn an
acceptable yield, and
WHEREAS, the City hereby requests the following changes
regarding the individuals authorized to act on behalf of the City,
Now Therefore
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF ROUND ROCK,
TEXAS,
A. That the City of Round Rock, Texas has entered into a
Participation Agreement and has established an account in
its name with the Texas Short Term Asset Reserve Program,
TexSTAR, for the purpose of transferring funds for
investment and achieving solid fiscal responsibility;
B. That the individuals, whose signatures appear below, are
officers, employees, or authorized representatives of the
City and are each hereby authorized to transmit funds to
the TexSTAR for investment therein and are further
0:\wdox\RES0LUTI\R070614D2
authorized to withdraw funds from time to time, to issue
letters of instruction, and to take all other actions
deemed necessary or appropriate for the investment of
local funds :
1. Name: Cindy
�—Demers Title: Director of Finance
Signature
2. Name: Cheryl Delaney Title: Assistant Director of Finance
Signature bw
3. Name: Jerry Gallowa Title: Controller
Signature
4. Name: Elaine Wilson Title: Financial Programs Manager
Signature "`'Q'`" dIDWA--)
5. Name: Sharon Masterjohn Title: Treasury& Finance Supervisor
Signature
6. Name: Lynn Olse Title: A untant II
Signature Xvy
C. That this Resolution and its authorization shall continue
in full force and effect until amended or revoked by the
City, and until the TexSTAR Administrators receive a copy
of any such amendment or revocation.
The City Council hereby finds and declares that written notice
of the date, hour, place and subject of the meeting at which this
Resolution was adopted was posted and that such meeting was open to
the public as required by law at all times during which this
2 .
Resolution and the subject matter hereof were discussed, considered
and formally acted upon, all as required by the Open Meetings Act,
Chapter 551, Texas Government Code, as amended.
RESOLVED this 14th day of June, 2 7 .
01
IPWMAXWIE , Mayor
City of Round Rock, Texas
ATTEST:
CHRISTINE R. MARTINEZ, City Secre ary
3 .
DATE: June 7, 2007
SUBJECT: City Council Meeting - June 14, 2007
ITEM: *12D2. Consider a resolution authorizing certain officers and employees of
the City to perform transactions with TexStar.
Department: Finance
Staff Person: Cindy Demers, Director of Finance
Justification:
This resolution will make changes to the current authorization list to accommodate changes
in personnel and to maintain adequate coverage with key employees during vacations,
illness, or inaccessibility of other authorized employees.
Funding:
Cost: N/A
Source of funds: N/A
Outside Resources: N/A
Background Information:
As a member of TexStar, a local government investment pool, we are required to secure
City Council approval for authorized individuals to act on behalf of the City. This resolution
will replace the previous authorized list by deleting Noelle Jones, and adding Cheryl Delaney
and Sharon Masterjohn.
Public Comment: N/A